More lenders are offering lower-leverage acquisition loans of 60-75% on New York properties. “In the past, if a space was rented at $60 per square foot, banks might lend based on higher market rents, such as $70 per square foot, even if there was no available space in the building. Some banks even projected future rents of $100. It was as if it was Monopoly money,” said Ron Kremnitzer, co-chair of the real estate group at law firm Pryor Cashman. “Now not only are we seeing lower....
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Jul 03, 2014 - Samantha Rowan
Although it’s not quite hurricane season, JLL is issuing a call to action for tenants and property managers to be on top of emergency preparedness.
Jun 26, 2014 - Samantha Rowan
A joint venture between Oak Coast Properties and Redhill Realty has acquired One Dartmouth Place Apartments, a 418-unit apartment complex in Denver.
More borrowers are expected to tap the commercial mortgage-backed securities market to refinance existing CMBS 2.0 loans as property values continue to rise.
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